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10.04.2020

Pbu 23 11 brief description. Ministry of Finance of the Russian Federation

MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

ORDER

On approval of the Accounting Regulations "Cash Flow Statement" (PBU 23/2011)


In order to improve the legal regulation in the field of accounting and financial statements and in accordance with the Regulations on the Ministry of Finance of the Russian Federation, approved by Decree of the Government of the Russian Federation of June 30, 2004 N 329 (Collected Legislation of the Russian Federation, 2004, N 31, Art. 3258; N 49, Art. 4908; 2005, N 23, 2270; N 52, art. 5755; 2006, N 32, art. 3569; N 47, art. 4900; 2007, N 23, art. 2801; N 45, art. 411; N 46, art. 5337; 2009, N 3, art. 378; N 6, art. 738; N 8, art. 973; N 11, art. 1312; N 26, art. 3212; N 31, art. 3954; 2010, N 5, art. 531; N 9, art. 967; N 11, art. 1224; N 26, art. 3350; N 38, art. 4844; 2011, N 1, art. 238),

I order:

1. Approve the attached Accounting Regulation "Cash Flow Statement" (PBU 23/2011).

2. Establish that this order comes into force starting with the financial statements for 2011.

Deputy
Prime Minister
Russian Federation -
Minister of Finance
Russian Federation
A. Kudrin

Registered
at the Ministry of Justice
Russian Federation
March 29, 2011
registration N 20336

Accounting Regulations "Cash Flow Statement" (PBU 23/2011)

I. General provisions

1. This Regulation establishes the rules for compiling a cash flow statement commercial organizations(excluding credit institutions) that are legal entities according to the legislation of the Russian Federation (hereinafter referred to as organizations).

2. This Regulation is applied to the preparation of a cash flow statement in cases where the preparation and (or) presentation and (or) publication of this report are provided for by the legislation of the Russian Federation or regulatory legal acts, as well as when the organization has voluntarily decided to submit and (or) publish such a report.

This Regulation does not apply when compiling the reporting of an organization for internal purposes, reporting compiled for state statistical observation, reporting information submitted credit institution in accordance with its requirements, and reporting information for other special purposes, unless the rules for compiling such reporting and information provide for the application of this Regulation.

3. The cash flow statement is included in the financial statements of the organization.

4. The cash flow statement is drawn up on the basis of the general requirements for the organization's financial statements established by regulatory legal acts on accounting, and the requirements established by this Regulation.

5. The cash flow statement is a summary of data on cash, as well as highly liquid financial investments that can be easily converted into a known amount of cash and which are subject to an insignificant risk of changes in value (hereinafter referred to as cash equivalents). Cash equivalents may include, for example, demand deposits opened with credit institutions.

6. The cash flow statement reflects the organization's payments and receipts of cash and cash equivalents into the organization (hereinafter - cash flows organizations), as well as cash and cash equivalent balances at the beginning and end of the reporting period.

The organization's cash flows are not:

a) cash payments related to their investment in cash equivalents;

b) cash receipts from the repayment of cash equivalents (excluding accrued interest);

c) foreign exchange operations (except for losses or gains from the operation);

d) exchange of some cash equivalents for other cash equivalents (except for losses or benefits from the transaction);

e) other similar payments to the organization and receipts to the organization that change the composition of cash or cash equivalents, but do not change their total amount, including receiving cash from a bank account, transferring funds from one account of an organization to another account of the same organization.

II. Classification of cash flows

7. The cash flows of the organization are divided into cash flows from current, investment and financial transactions.

8. The cash flows of an organization are classified depending on the nature of the transactions with which they are associated, as well as on how information about them is used to make decisions by users of the organization's financial statements.

9. Cash flows of the organization from transactions related to the implementation ordinary activities revenue-generating entity are classified as cash flows from current operations. Cash flows from current operations, as a rule, are associated with the formation of profit (loss) of the organization from sales.

Information on cash flows from current operations shows users of the organization's financial statements the level of provision of the organization with cash sufficient to repay loans, maintain the organization's activities at the level existing volumes production, payment of dividends and new investments without attracting external sources financing. Information about the composition of cash flows from current operations in prior periods, combined with other information presented in an entity's financial statements, provides a basis for predicting future cash flows from current operations. Examples of cash flows from current operations are:

a) proceeds from the sale to buyers (customers) of products and goods, performance of work, provision of services;

b) receipts of lease payments, royalties, commissions and other similar payments;

c) payments to suppliers (contractors) for raw materials, materials, works, services;

d) remuneration of employees of the organization, as well as payments in their favor to third parties;

e) corporate income tax payments (with the exception of cases where corporate income tax is directly related to cash flows from investment or financial transactions);

e) payment of interest on debt obligations, with the exception of interest included in the cost of investment assets in accordance with the Accounting Regulation "Accounting for expenses on loans and credits" (PBU 15/2008), approved by order of the Ministry of Finance of the Russian Federation of October 6, 2008 N 107n (registered with the Ministry of Justice Russian Federation October 27, 2008, registration number 12523) as amended by Orders of the Ministry of Finance of the Russian Federation dated October 25, 2010 N 132n (registered with the Ministry of Justice of the Russian Federation on November 25, 2010, registration number 19048), dated November 8, 2010 N 144n (registered with the Ministry of Justice of the Russian Federation 1 December 2010, registration number 19088) (hereinafter referred to as PBU 15/2008);

g) receipt of interest on accounts receivable buyers (customers);

h) cash flows from financial investments acquired for the purpose of their resale in the short term (usually within three months).

10. Cash flows of the organization from transactions related to the acquisition, creation or disposal non-current assets entities are classified as cash flows from investment operations.

Information on cash flows from investment operations shows users of the organization's financial statements the level of expenses the organization has made to acquire or create non-current assets that provide future cash receipts.

Examples of cash flows from investment operations are:

a) payments to suppliers (contractors) and employees of the organization in connection with the acquisition, creation, modernization, reconstruction and preparation for the use of non-current assets, including the costs of research, development and technological work;

b) payment of interest on debt obligations included in the value of investment assets in accordance with PBU 15/2008;

c) proceeds from the sale of non-current assets;

d) payments in connection with the acquisition of shares (participation interests) in other organizations, with the exception of financial investments purchased for the purpose of resale in the short term;

e) proceeds from the sale of shares (participation interests) in other organizations, with the exception of financial investments acquired for the purpose of resale in the short term;

f) granting loans to other persons;

g) return of loans granted to other persons;

h) payments in connection with the acquisition of debt valuable papers(rights to claim funds to other persons), with the exception of financial investments acquired for the purpose of resale in the short term;

i) proceeds from the sale of debt securities (rights to claim funds from other persons), with the exception of financial investments acquired for the purpose of resale in the short term;

j) dividends and similar receipts from equity participation in other organizations;

k) receipt of interest on debt financial investments, except for those acquired for the purpose of resale in the short term.

11. The cash flows of the organization from operations related to the attraction of financing by the organization on a debt or equity basis, leading to a change in the size and structure of capital and borrowed money entities are classified as cash flows from financial transactions.

Information on cash flows from financial transactions provides a basis for forecasting the requirements of creditors and shareholders (participants) in relation to the organization's future cash flows, as well as the organization's future needs for raising debt and equity financing.

Examples of cash flows from an entity's financial transactions are:

a) cash deposits of owners (participants), proceeds from the issue of shares, increase in participation interests;

b) payments to owners (participants) in connection with the redemption of shares (participatory interests) of the organization from them or their withdrawal from the membership;

c) payment of dividends and other payments for the distribution of profits in favor of owners (participants);

d) proceeds from the issuance of bonds, bills of exchange and other debt securities;

e) payments in connection with the redemption (redemption) of promissory notes and other debt securities;

f) receiving credits and loans from other persons;

g) return of credits and loans received from other persons.

12. Cash flows of an organization that cannot be unambiguously classified in accordance with paragraphs 8-11 of this Regulation are classified as cash flows from current operations.

13. Payments and receipts from a single transaction may relate to different types cash flows. For example, payment of interest is a cash flow from current operations, and repayment of principal is a cash flow from financial operations. When repaying a loan monetary form both of these parts can be paid in one amount. In this case, the organization divides a single amount into the appropriate parts, followed by a separate classification of cash flows and their separate reflection in the cash flow statement.

III. Reflection of cash flows

14. The organization's cash flows are reflected in the cash flow statement with a division into cash flows from current, investment and financial operations.

15. Each significant type of receipts of cash and (or) cash equivalents to the organization is reflected in the statement of cash flows separately from payments to the organization, unless otherwise provided by these Regulations.

16. Cash flows are reflected in the cash flow statement in cases where they characterize not so much the activities of the organization as the activities of its counterparties, and (or) when receipts from some persons determine the corresponding payments to other persons. Examples of such cash flows are:

a) cash flows of a commission agent or agent in connection with the performance of commission or agency services by them (with the exception of fees for the services themselves);

b) indirect taxes as part of receipts from buyers and customers, payments to suppliers and contractors and payments in budget system Russian Federation or reimbursement from it.

c) receipts from the counterparty on account of compensation utility bills and making these payments in lease and other similar relations;

d) payment for the transportation of goods with the receipt of equivalent compensation from the counterparty.

17. Cash flows are shown in the cash flow statement on a net basis in cases where they are characterized by a rapid turnover, large sums and short return periods. Examples of such cash flows are:

a) mutually conditional payments and receipts for settlements using bank cards;

b) purchase and resale of financial investments;

c) implementation of short-term (as a rule, up to three months) financial investments at the expense of borrowed funds.

18. Indicators of the statement of cash flows of the organization are reflected in the currency of the Russian Federation - rubles.

The amount of cash flows in foreign currency is converted into rubles at the official rate of this foreign exchange to the ruble, established central bank Russian Federation on the date of making or receiving the payment. In the event of an insignificant change in the official exchange rate of a foreign currency against the ruble, established by the Central Bank of the Russian Federation, the conversion into rubles associated with the commission a large number homogeneous transactions in such foreign currency may be carried out at the average rate calculated for a month or a shorter period.

If, immediately after receipt in foreign currency, the organization, as part of its normal activities, changes the amount of foreign currency received into rubles, then the cash flow is reflected in the cash flow statement in the amount of actually received rubles without intermediate conversion of foreign currency into rubles. If, shortly before a payment in foreign currency, an organization, as part of its normal activities, exchanges rubles for the required amount of foreign currency, then the cash flow is reflected in the cash flow statement in the amount of rubles actually paid without intermediate conversion of foreign currency into rubles.

19. Balances of cash and cash equivalents in foreign currency at the beginning and end of the reporting period are reflected in the statement of cash flows in rubles in the amount determined in accordance with the Accounting Regulation "Accounting for assets and liabilities whose value is expressed in foreign currency "(PBU 3/2006), approved by order of the Ministry of Finance of the Russian Federation of November 27, 2006 N 154n (registered with the Ministry of Justice of the Russian Federation on January 17, 2007, registration number 8788) as amended by orders of the Ministry of Finance of the Russian Federation of December 25, 2007 year N 147n (registered with the Ministry of Justice of the Russian Federation on January 28, 2008, registration number 11007), dated October 25, 2010 N 132n (registered with the Ministry of Justice of the Russian Federation on November 25, 2010, registration number 19048).

The difference arising in connection with the recalculation of the organization's cash flows and cash and cash equivalents in foreign currency at exchange rates on different dates is reflected in the cash flow statement separately from the organization's current, investment and financial cash flows as the impact of changes in the foreign exchange rate at in relation to the ruble.

20. Significant cash flows of the organization between it and business companies or partnerships that are subsidiaries, associates, or principals of an entity are presented separately from similar cash flows between the entity and others.

IV. Disclosure of information in financial statements

21. If an organization provides additional explanations to any indicator of the cash flow statement in its financial statements, then the corresponding item of the cash flow statement should contain a link to these explanations.

22. An entity discloses the composition of cash and cash equivalents and reconciles the amounts presented in the cash flow statement with the relevant line items. balance sheet.

23. The organization discloses as part of information about its adopted accounting policy the approaches used to separate cash equivalents from other financial investments, to classify cash flows not specified in paragraphs 9-11 of this Regulation, to convert the amount of cash flows in foreign currency into rubles, for a summary presentation of cash flows, as well as other explanations necessary for understanding the information presented in the cash flow statement.

24. The organization discloses the opportunities available as of the reporting date to raise additional funds, including:

a) the amounts of open organizations, but not used by it credit lines indicating all established restrictions on the use of such credit resources (including the amounts of mandatory minimum (minimum) balances);

b) the amount of funds that can be received by the organization on the terms of an overdraft;

c) guarantees of third parties received by the organization that were not used as of the reporting date to obtain a loan, indicating the amount of funds that the organization can attract;

d) amounts of loans (credits) not received as of the reporting date under the concluded loan agreements ( loan agreements) indicating the reasons for such a shortfall.

25. The Organization discloses, taking into account materiality, the following information:

a) available significant amounts of cash (or their equivalents) that, as of the reporting date, are not available for use by the organization (for example, letters of credit opened in favor of other organizations for transactions in progress as of the reporting date), indicating the reasons for these restrictions;

b) the amount of cash flows associated with maintaining the activities of the organization at the level of existing production volumes, separately from the cash flows associated with the expansion of the scale of these activities;

c) cash flows from current, investment and financial transactions for each reporting segment, determined in accordance with the Accounting Regulation "Information on Segments" (PBU 12/2010), approved by Order of the Ministry of Finance of the Russian Federation dated November 8, 2010 N 143n ( registered with the Ministry of Justice of the Russian Federation on December 14, 2010, registration number 19171);

d) funds in letters of credit opened in favor of the organization, together with information about the fact that the organization has fulfilled obligations under the agreement using a letter of credit as of the reporting date. If the obligations under the agreement with the use of a letter of credit are fulfilled by the organization, but the funds of the letter of credit are not credited to its settlement or other account, then the reasons and amounts of non-credited funds are disclosed.

"International accounting", 2011, N 33

The article compares the Accounting Regulation "Cash Flow Statement" (PBU 23/2011), approved by the Order of the Ministry of Finance of Russia dated 02.02.2011 N 11n, with similar international standards GAAP and IFRS. Such a comparison is interesting for theoretical scientific research and practical application of this normative document, which is necessary for the correct and consistent preparation of the statement of cash flows as part of financial reporting.

Standards in the system financial accounting developed for accounting and compiling financial statements. These regulatory documents, the provisions of which must be taken into account by developers of various guidelines regulating the completeness, structure and content of financial statements.

Brief history of the issue. The cash flow statement has been included in the financial statements of Russian enterprises since the reporting for 1997. Over the 14 years that have passed since that time, great changes have taken place and a lot of work has been done in the field of building a new system of Russian financial accounting and financial reporting. Starting from the reporting for 2004, the Ministry of Finance of Russia allowed the use of the International Financial Reporting Standard (IFRS) (IAS) 7 "Statement of cash flows" when compiling the report. This was due to the lack of a national standard, which was developed only in 2011. Currently, the cash flow statement must be filled out in accordance with the Order of the Ministry of Finance of Russia dated 02.07.2010 N 66n "On the forms of financial statements of organizations" (hereinafter - Order N 66n ) (Table 1).

Table 1

Statement of cash flows for _________ 20__

First of all, it is necessary to pay attention to the change in the terminology that has been used in the cash flow statement since 2011. In accordance with the Order of the Ministry of Finance of Russia of July 22, 2003 N 67n "On the forms of financial statements of organizations" (hereinafter - Order N 67n) in the form N 4, the term "net increase (decrease) in cash" was used to denote net cash flow. Starting from the reporting for 2011, in accordance with Order No. 66n, the term "result of cash flow" is used for this.

In addition, a comparison of the new report form with the form that was supposed to be submitted in accordance with Order No. 67n shows that another convergence of Form No. 4 with IFRS has occurred, while maintaining differences associated both with the construction of the form itself and with general differences between Russian accounting standards (RAS) and IFRS. To confirm this thesis, we present the scheme of the cash flow statement, which should be prepared in accordance with IFRS by the direct method:

Sample statement of cash flows (IFRS 7)

Cash flow
from operating activities <*>:
Income x
Retirement (x)
Net cash flow from operating activities xxx
Cash flow
from investment activity :
Income x
Retirement (x)
Net cash flow from investing activities xxx
Flow of funds
from financial activities :
Income x
Retirement (x)
Net cash flow from financing activities xxx
The impact of exchange rate changes on cash and
equivalents
Net change in cash and cash equivalents xxx
Cash and cash equivalents at the beginning x
period
Cash and cash equivalents at end x
period <*>In international terminology, current activity is called operating (English operating activity - operational activity).

Note to the report. List of all cash transactions investment and financial nature for the period ...

As a convergence with IFRS, we can note the fact that starting from the reporting for 2011 in the form N 4 Russian reporting, as in IFRS, the cash balances at the beginning and end of the period are joined together at the end of the report. AT international standards such a structure of the report is explained by the need to reconcile the opening and closing balances of cash and cash equivalents included in the cash flow statement with the balance sheet data. As a result of this approach, in accordance with IFRS, by adding (algebraically) to the total net cash flow, the cash balance at the beginning of the period, the preparer will always receive the cash balance at the end of the period. When compiling a report in accordance with RAS, the use of such a scheme for a large number enterprises will immediately reveal the difference between the data of form N N 4 and 1. This is due to the fact that there are still differences related to the methodology for constructing the report form. The line "The magnitude of the impact of changes in the exchange rate of foreign currency against the ruble" in Form No. 4, in contrast to IFRS, is moved beyond the limits of the already determined net cash flow. Due to this circumstance, for such enterprises, the amount indicated on this line always distorts the balance and turnover in the Russian cash flow statement and leads to a gap with the balance sheet.

It should also be noted that, in accordance with IFRS, the cash flow statement for operating activities can be prepared both by the direct and indirect methods, while the Russian statement is supposed to be prepared only by the direct method, as can be seen from its structure.

Given that Russian financial accounting is being reformed in accordance with IFRS, these standards are taken as the basis for comparing and contrasting Russian regulations and reporting practices in the article. However, it is known that both the format of the cash flow statement and the standard dedicated to it were originally developed in the US GAAP system (English Generally Accepted Accounting Principles, US GAAP - a system of financial accounting standards and principles used in the USA). It was from this system that all the basic principles and rules for generating a report were taken into IFRS. In this regard, a comparison of the Accounting Regulations "Cash Flow Statement" (PBU 23/2011), approved by Order of the Ministry of Finance of Russia dated 02.02.2011 N 11n (hereinafter - PBU 23/2011), and the provisions of some other normative documents RAS is produced not only with IFRS (IAS) 7, but also with GAAP (FAS 95), which allows more deep Scan. It should be noted that the GAAP also uses FAS 102, Statement of Cash Flows - Exceptions for Certain Entities and Classification of Cash Flows from Certain Types of Securities Purchased for Resale, and FAS 104, Statement of Cash Flows for Resale on cash flows - a statement of net cash receipts and payments for certain operations and the classification of cash in hedging operations" (Table 2).

table 2

Comparative characteristics of the main provisions of the standards on the preparation of a cash flow statement

N
p/p		Regulations
standard		IAS 7GAAP (FAS 95)RAS
(PBU 23/2011)
1 TargetThe purpose of this
standard
lies in
requirement
providing
information about
historical
changes in
cash
and equivalents
Money
companies
through
traffic reports
Money.
Information about
cash flow
company funds
is useful
because it gives
users
financial
reporting framework
for rate
capabilities
companies to create
cash
and their equivalents,
her needs for
monetary
means.
Economic
solutions,
accepted
users,
require evaluation
capabilities
companies to create
cash
and their equivalents,
distribution during
time and
their certainties
creation		Report Data
help
estimate:
1. Ability
enterprises
provide in
future
excess
tributaries
Money
over their outlet.
2. Ability
enterprises
answer by
their
obligations
pay
dividends and
satisfy
all needs
in the outer
financing.
3. Reasons
discrepancies
between net
profit and
net cash
flow.
4. Influence
investment and
financial
activities on
financial
position
enterprises		The goal is not
formulated
2 Sphere
applications		This standard
requires everyone
companies
representation
traffic report
Money,
because monetary
funds
any
companies
regardless
its specifics
activities		Traffic report
Money
should be included in
quality
component part
in full
set
financial
reporting
any
enterprises
(with the exception of
non-commercial
organizations)		PBU 23/2011
establishes
regulations
compiling
traffic report
Money
commercial
organizations
(with the exception of
credit
organizations),
being
legal
persons according to
legislation
RF.
PBU 23/2011
not applicable
when compiling
reporting
organizations for
internal goals
reporting,
compiled for
state
statistical
observation,
reporting
information,
represented
credit
organizations in
accordance with its
requirements, and
reporting
information for
other special
goals, if
rules
drawing up such
reporting and
no information
envisaged
application
PBU 23/2011
3 Performance
report on
movement
monetary
funds and general
provisions		Traffic report
Money
must
introduce
traffic data
Money
for the period,
classifying them
operating room,
investment or
financial
activities.
Company
represents
traffic data
Money
from the operating room
investment or
financial
activities,
because it
more
corresponds
its nature
activities. One
and the same operation
may include
receipts and
cash payments
funds,
classified
differently		Traffic report
Money
should reflect
net
monetary
streams,
educated
during
reporting
period during
operating room,
investment
and financial
activities
organizations.
Coordination
elementary
and final
leftovers
monetary
and equivalent
funds to them
included in
Traffic report
Money		Traffic report
Money
compiled on
on the basis of common
requirements for
accounting
reporting
organizations,
established
normative
legal acts
accounting
accounting, and
requirements
established
PBU 23/2011.
cash flows
organizations
subdivided into
cash flows
from current
investment and
financial
operations.
cash flows
organizations
classified
depending on the
character
operations, with
which they
connected as well
from what
way
information about them
is used for
decision making
users
accounting
reporting
organizations
4 obligatory
inclusion in
compound
financial
reporting		The company is obliged
prepare a report on
cash flow
funds
according
with requirements
present
standard and
represent him in
as an integral
part of its
financial
reporting for
every period
wherein
seemed
financial
reporting		Traffic report
Money
necessarily
should be included
as
component part
in full
kit overall
financial
reporting to
external
users
any
enterprises		Traffic report
Money
is part of
accounting
reporting
organizations
5 Terms and their
definitions		Cash
funds -
include money in
checkout and at the current
company account.
Equivalent
Money -
short-term
highly liquid
investment, easy
reversible to
known in advance
amount of money
funds
and subject to
insignificant
risk of change
their cost.
Cash flow
funds -
receipts and
cash payments
funds and their
equivalents.
operating room
activity -
main
revenue generating
activity
companies and other
activity,
different from
investment
and financial
activities.
Investment
activity -
acquisition and
sale
long-term
assets and other
investment,
not related
to cash
equivalents.
Financial
activity -
activity,
which leads
to changes in
size and composition
own
capital and borrowed
company funds		Cash
equivalents -
highly liquid
investments,
which:
- can be
exchanged for
known amount
monetary
funds;
- maturity
which 3 months.
or less to
maturity date
and have
minor
risk of change
cost due to
changes
interest
rates.
Direct method -
the method that
allows
define
net cash
flow from
operating room
activities for
transaction account,
associated with
monetary
income and
payments, not
associated with
net profit.
Financial
activity -
operations
companies,
related
with purchase
and sale
capital
(borrowings,
sale of shares,
payment of debts
etc.).
Indirect
method - method,
which the
allows
define
net cash
flow from
operating room
activities for
check
adjustments
net profit,
received for
income account and
expenses, not
associated with
monetary
operations.
Investment
activity -
operations
companies,
Related
investment in
long-term
assets (purchase
and sale
buildings,
structures,
equipment
etc.).
operating room
activity -
operations, not
relating to
investment
and financial
activities,
mostly
Related
production
products or
services		Traffic report
Money
represents
generalization
money data
means,
as well as
highly liquid
financial
investments,
which can
be easy
turned into
known in advance
amount of money
funds that
exposed
insignificant
risk of change
cost
(hereinafter referred to as monetary
equivalents).
cash flows
organizations from
operations,
associated with
implementation
ordinary
activities
organizations,
bringing
revenue,
classified
like money
flows from current
operations.
cash flows
from current
operations like
usually related
with the formation
profit (loss)
organizations from
sales.
cash flows
organizations
from operations
related
with the purchase
creation or
retirement
non-current
assets
organizations,
classified
like money
flows from
investment
operations.
cash flows
organizations from
operations,
associated with
involving
organization
funding
on debt or
share basis,
leading
to change
quantities
and structures
capital
and borrowed funds
organizations,
classified
like money
flows from
financial
operations
6 Performance
flows
monetary
funds from
operating room
activities
(the form
and content
report
about the movement
monetary
funds)		The company must
introduce
traffic data
Money
from the operating room
activities,
using:
- direct method,
under which
revealed
information about
main types
gross cash
income and
payments;
- or indirect
method in which
profit or loss
adjusted from
results
operations
non-monetary
character, any
delayed or
accrued
past or
future cash
income or
payments for
basic
activities and
income items
or expenses
related
with admission or
disposal of cash
funds for
investment or
financial
activities		Traffic report
Money
should separately
indicate amounts
net cash
streams,
related to
period
from the operating room
investment and
financial
activity.
When determining
clean
cash flow
from the operating room
activities
recommended
use
direct method.
But it is also possible
use and
indirect method
(method
recalculation) (see
In chapter
"Terms and their
definitions"
definition
direct and
indirect
method)		In RAS 23/2011
missing
chapter,
characterizing
performance
cash flows
funds from
operating room
activities
7 Performance
flows
monetary
funds from
investment
and financial
activities
(performance
flows
monetary
funds for
net method)		The company must
separately
introduce
main types
gross cash
income and
gross cash
payments,
arising from
investment
and financial
activities,
with the exception of
monetary
income and
payments, data
which
appear
based
netting.
For such operations
may, for example,
relate:
- acceptance and
redemption of deposits
poste restante
jar;
- rent,
collected from
the names of the owners
property and
transmitted to them;
- cash
receipts and
payments for
acceptance and payment
deposits from
fixed
payment term;
- and others		Not separately
considered,
but in
illustrative
parts in the report
about the movement
Money
separately
appear
main types
gross cash
income and
gross cash
payments,
arising from
investment
and financial
activities		In RAS 23/2011
missing
chapter,
characterizing
performance
cash flows
funds from
investment
and financial
activities
8 Traffic
monetary
funds in
foreign
currency		Cash flow
funds,
emerging in
result
operations
in foreign
currency, should
reflected in
functional
organization currency
through the application
to the sum
in foreign
exchange currency
course between
functional and
foreign
currencies on the date
occurrence
this movement
Money.
Unrealized
profit and loss,
emerging in
result
exchange rate changes
foreign
currencies, not
are a movement
Money.
Impact of change
exchange rate
currencies to cash
funds
and equivalents
Money
seems
separately from
cash flow
funds from
operating room,
investment
and financial
activities and
includes the differences
if they are,
when
representation
data on
income and
cash payments
funds in
reporting on
exchange rates for
end of period		When conducting
foreign exchange transactions
company
should reflect
in the report on
movement
Money
equivalent
currencies, in
which
made a report,
using when
recalculation
exchange rates,
acting on
moment
occurrence
monetary
streams. Instead of
exchange rates,
acting on
moment
occurrence
monetary
flows, can
used
weighted average
exchange rates
for this
period.
Influence
changes
exchange rates
for leftovers
monetary
funds,
supported
in foreign
currencies,
in the report
about the movement
Money
indicated
separate
line by
article changes
monetary
and equivalent
funds to them
for the period		Report indicators
about the movement
Money
organizations
reflected in
currency of the Russian Federation -
rubles.
The amount of money
flows in
foreign
currency
recalculated
in rubles per
official
this
foreign
currencies to the ruble,
established
Bank of Russia on
date
implementation or
receipts
payment.
Difference,
emerging
due
with recalculation
cash flows
organizations and
cash balances
funds
and monetary
equivalents
in foreign
currency at rates
for different dates
reflected in
traffic report
Money
separately from
current,
investment
and financial
cash flows
organizations like
impact of change
foreign exchange rate
currencies by
ruble
9 Percentage and
dividends		Income and
cash payments
funds in connection with
received and
paid
interest and
dividends should
open up
separately.
They must
be classified
sequentially from
period to period
like movements
Money
from the operating room
investment or
financial
activities.
total amount
percent,
paid in
during the period
revealed in
traffic report
Money
regardless
from being recognized
does she like an expense
in profit or
loss or
capitalized in
According to
admissible
alternative
reflection method,
permissible
according to IFRS
(IAS) 23 "Costs
on loans."
Paid
interest,
received
interest
and dividends can
be classified
like movement
Money
from the operating room
activities,
because they
fall under
definition
profit or
loss. At the same
time paid
interest and
received
interest
and dividends can
be classified
respectively as
cash flow
funds from
financial and
investment
activities,
because they
are costs
to attract
financial
resources
or income
for investment		Paid
interest
refer to
operating room
activities,
and paid
dividends
considered
as a financial
activity.
Received
interest and
dividends
refer to
operating room
activities		To the current
activities
applies to:
- payment
percent on
debt
obligations
with the exception of
percent,
included in
price
investment
assets underway
in accordance with
Regulations on
accounting
accounting "Accounting
expenses for
loans and
loans"
(PBU 15/2008),
approved
Order of the Ministry of Finance
Russia from
06.10.2008 N 107н
(Further -
PBU 15/2008);
- admission
percent on
accounts receivable
debt
buyers
(customers).
To cash
flows from
investment
activities
relate:
- payment
percent on
debt
obligations
included in
price
investment
assets underway
in accordance with
PBU 15/2008;
- dividends and
similar
proceeds from
equity participation
in others
organizations;
- receipts
percent on
debt
financial
investments, for
exception
purchased from
purpose of resale
in the short term
perspective.
To cash
flows from
financial
activities
payment applies
dividends and other
payments for
distribution
profit for
owners
(participants)
10 taxes on
profit		cash flow,
emerging in
connection with the tax
profit, must
open up
separately and
be classified
like money
flows from
operating room
activities, if
only they don't
can be
specifically linked
with financial or
investment
activities		taxes on
profit
relate
to the operating room
activities		Tax payments on
profit as
rule
refer to
current
activities
organizations (for
exception
cases when
income tax
organizations
directly
associated with
monetary
flows from
investment
or financial
operations)
11 Investment
into subsidiaries
companies,
associated
and joint
companies		When accounting
investment in
associated
or child
company, accounting
conducted by
equity method
participation or method
accounting for
cost,
investor
limited to
traffic report
Money
information about
cash flow
funds between
yourself (an investor)
and object
investment,
for example
dividends and
advances.
Company,
representing
share report
in jointly
controlled
organizations (see
IAS 31
"Participation in
joint
activities") with
using
method
proportional
consolidation,
includes in its
consolidated
reporting on
cash flow
funds
proportional
share of cash
income and
payments jointly
controlled
organizations.
Company,
representing
share report
using the method
equity participation,
includes in its
traffic report
Money
monetary
receipts and
payments related
with her investments
in jointly
controlled
organization
distribution and
other payments or
income between
her and jointly
controlled
organization		Separate
mention
missing		Essential
cash flows
organizations between
her and
economic
societies or
partnerships,
which are
towards
organizations
subsidiaries,
dependent or
basic,
reflected
separately from
similar
cash flows
between
organization and
other persons
12 Cumulative
receipts and
cash payments
funds,
emerging in
result
acquisitions and
sales of subsidiaries
companies and others
structural
units, should
introduce yourself
separately and
be classified
as an investment
activity		Separate
mention
missing		Separate
mention
missing
13 Non-monetary
operations		Investment and
financial
operations, not
requiring
use
Money
or their
equivalents
should be excluded
from reports on
cash flows
funds. Similar
operations should
open up in
financial
reporting to such
so that they
provided all
significant
information about such
investment and
financial
activities		Comments on
report on
movement
Money
should reflect
information about
all
investment
and financial
activities
during
reporting
period, which
influenced
on assets
and liabilities, but
not reflected
on the move
monetary
funds.
In the report
about the movement
Money
indicated
only monetary
part partly
monetary
and partially
non-monetary
operations		Separate
mention
missing
14 Components
monetary
funds and
equivalents
monetary
funds		The company must
disclose composition
cash and
their equivalents and
introduce
reconciliation of amounts in her
traffic report
cash from
equivalent
articles,
represented in
balance sheet		Separate
mention
missing		Separate
mention
missing
15 Other
requirements to
disclosure
information		The company must
open (together
with comments
manual) amount
she has
significant
cash balances
funds and
equivalents
Money,
which are not available
for use
group		Separate
mention
missing		Separate
mention
missing

The comparative table allows you to clearly see the differences between PBU 23/2011 and its international counterparts:

1. The purpose of the report. The purpose of the report is not formulated in PBU 23/2011. This may be due, in particular, to the fact that the purpose of preparing Russian financial statements as a whole has not yet been formulated. The lack of goal-setting emasculates the economic sense of preparing financial statements and a cash flow statement as well. The purpose and purpose of the report, formulated in IFRS and GAAP, on the one hand, are clearly focused on meeting the interests of a wide range of users, and on the other hand, show the place of the cash flow statement in the financial statements and the importance of cash flows for assessing the financial position of the organization and assessment of the possibilities of its growth and development.

2. Scope of application. From the point of view of formal features, the scope of PBU 23/2011 coincides with foreign counterparts.

3. Presentation of the cash flow statement and general provisions. In general, on this basis, there is also a formal coincidence with IFRS and GAAP. Here it is necessary to pay attention to the fact that the FAS 95 standard formulates the requirement for mandatory reconciliation of the initial and final balances of cash and cash equivalents included in the Cash Flow Statement with balance sheet data.

4. Mandatory inclusion in the financial statements. PBU 23/2011 states that the cash flow statement is included in the financial statements of the organization. IFRS (IAS) 7 and FAS 95 indicate the need for mandatory inclusion of a cash flow statement in a complete set of financial statements (regulated by these rules, principles and standards). As a result of the existence of this, at first glance, insignificant difference, at present, when compiling a complete set of Russian financial statements, there is a possibility that this report will not be included in the full set of Russian financial statements. An analysis of the documents showed that the Russian legislation contains prerequisites and direct instructions that allow one to submit external users not a complete set, but only a balance sheet and income statement. In the Orders of the Ministry of Finance of Russia, which since 1996 regulated the composition and content of Russian financial statements, the wording was changed in accordance with which the set of financial statements and the place in it of the cash flow statement were determined. So, in the Order of the Ministry of Finance of Russia dated November 12, 1996 N 97 "On the annual financial statements of organizations" it is written:

"1. Approve for the submission of annual financial statements by legal entities (except budget institutions, insurance organizations and banks) standard forms(Appendix 1 to this Order) and Instructions for filling them out (Appendix 2 to this Order).

  1. The composition of the annual financial statements includes:

a) Balance sheet - form N 1;

b) Report on financial results- form No. 2;

c) explanations to the balance sheet and income statement:

Capital flow statement - form N 3;

Cash flow statement - form N 4;

Appendix to the balance sheet - form N 5;

explanatory note".

In the Order of the Ministry of Finance of Russia dated January 13, 2000 N 4n "On the Forms of Accounting Statements of Organizations", this wording is repeated and a parity listing of all the main forms of reporting is preserved. But in Order N 67n it is already written that: "Included in the interim and annual financial statements, the balance sheet should be considered form N 1, the Profit and Loss Statement - form N 2. Included in the appendices to the balance sheet and the income statement of the accounting Statement of changes in capital is considered to be form N 3, Cash flow statement - form N 4, Appendix to the balance sheet - form N 5, Report on intended use received funds - form N 6".

Thus, starting from the reporting for 2004, the cash flow statement began to be interpreted as an appendix to the two main reporting forms. The same trend is observed in Order N 66n. Obviously, the concept of a mandatory set of financial statements, which is formulated in international standards, is gradually blurred.

This applies to small businesses (clause 3 of the Guidelines on the scope of accounting forms approved by Order No. 67n) and open joint-stock companies (Order of the Ministry of Finance of Russia dated November 28, 1996 N 101 "On the procedure for publishing financial statements by open joint-stock companies"). Based on these regulations, small businesses and open joint-stock companies may not present a cash flow statement (Form N 4) as part of their financial statements. The exclusion of these documents from the financial statements means that external users do not get access to a large amount of information characterizing the change in the financial position of the organization, and therefore are deprived of the opportunity to get a complete picture of the financial position of the organization for the period. This approach has a negative impact on the amount of analytical information that is presented to external users for acceptance by them. management decisions.

5. Terms and their definitions. Comparison of standards shows that RAS 23/2011 reflects the main terms and their definitions that must be used in the process of compiling a cash flow statement and analyzing cash flows from different types of activities. However, the following aspects should be noted.

Firstly, as in other Russian standards, PBU 23/2011 lacks special section dedicated to terms and their definitions. In international standards (IFRS and GAAP), the content is clearly structured and each standard is provided with content, of which a definitions section is also a part. This is a very important methodological and systematic part of the work, which improves the quality of standards.

Secondly, for Russian standard it would be important, along with the listed terms, to also identify the concept of "cash". The importance of this circumstance is explained by the fact that Russian financial statements, in accordance with federal law on accounting, is formed on the basis of the Chart of Accounts. Therefore, all the problems that are inherent in this document, to one degree or another, are reflected in the methodology for constructing reporting indicators. Among these problems are:

  • building a chart of accounts based on a mixed structure based on various classifications;
  • formation of a chart of accounts based on synthetic accounting accounts, and not elements of financial statements;
  • the presence of a large number of active-passive accounts and offset accounts for income and expenses;
  • the presence of accounts, during the construction of which such basic principles financial accounting and financial reporting, as the principle of a going concern, the principle of prudence or conservatism;
  • the presence of synthetic accounts that include various elements of financial statements.

In the current Russian Plan accounts, funds are located in section. 5 on accounts synthetic accounting from the 50th to the 59th. The content of this section of the Chart of Accounts and its structure allow us to conclude that the composition of cash in Russian accounting includes not only monetary assets, but also monetary documents, financial investments and reserves for the depreciation of investments in securities, which, being assets, are not money.

In the Chart of Accounts, the term "cash documents" refers to documents, information about which is reflected on sub-account 50-3. In accordance with the Instructions for the use of the Chart of Accounts, "subaccount 50-3" Monetary documents "takes into account postage stamps, stamps state duty, promissory notes, paid air tickets and other monetary documents".

A comparison of cash accounts shows that checks and letters of credit are more likely to be called monetary documents than different kinds stamps, and other paid documents, which are currently accounted for on the "Cashier" account. This conclusion follows from the nature of these documents. Check- this is a written order of the payer to his bank to pay a certain amount from his account to the holder of the check. Most often, a distinction is made between cash checks and settlement checks. cash checks are used to pay cash to the holder of a check in a bank, for example, on wages, household needs, travel expenses etc. Settlement checks- These are checks used for non-cash payments. Letter of credit(German akkreditiv - trust) is a conditional monetary obligation bank, issued by him on behalf of the buyer in favor of the seller, for which the bank that opened the account (issuing bank) can make payments to the seller or authorize another bank to make such payments if the documents provided for in the letter of credit are available and other conditions of the letter of credit are met. Settlements with the help of a letter of credit are also called "settlements under the LS system" (English letters of credit - letter of credit).

Comparison of checks and letters of credit with stamps and paid tickets shows fundamental difference between these types of documents in terms of the purpose of their creation. Checks and letters of credit were originally created for direct exchange for money as documents used in various forms of cash settlements. Such an exchange does not lead to a loss of liquidity, and these assets, in fact, are the most liquid cash equivalents. Stamps, tickets and other paid documents are not intended to be exchanged for money, as they are purchased for a different purpose. As a rule, when selling already purchased tickets, part of their value is lost, and postage stamps are not intended for sale at all. Therefore, we can assume that the level of liquidity of these assets is very doubtful and clearly lower than that of cash and cash equivalents. The presence of such assets in cash can be considered an atavism inherited from the previous accounting system, which is still largely present in the current Chart of Accounts. It is obvious that the transfer of the "Money Documents" sub-account from account 56 in the old Chart of Accounts to account 50 "Cashier" only exacerbated the existing contradiction that was in the old Chart of Accounts, since now stamps, tickets and similar documents are equated in the Russian Chart of Accounts with money and endowed absolute liquidity.

Financial investments, like monetary documents, do not generally refer to cash. However, in addition to the fact that financial investments in accordance with the Chart of Accounts are included in cash, not only short-term financial investments are classified as monetary assets, but also long-term financial investments that are part of long-term assets and are reflected in the corresponding balance sheet department.

It should be noted that in accordance with IFRS and GAAP, cash includes cash equivalents, which are defined in PBU 23/2011. In international standards, these assets are added to cash due to their high liquidity and low risk of its decline due to the short maturity. Because of this circumstance, cash equivalents in without fail must be added to the money, i.e. an assumption is made about their identity with money. This is supported by the fact that IAS 7 and FAS 95 use the phrase "cash and cash equivalents".

In the Russian Statement of Cash Flows, effective from 2011, cash equivalents are not mentioned next to cash. This raises the question: why was this concept introduced in PBU 23/2011 and what semantic load does it carry?

You should also pay attention to the fact that in GAAP among the terms "direct method" and "indirect method" are given, which is mentioned in IFRS in sect. 6 of the table "Presentation of cash flows from operating activities". These terms and the corresponding section are absent in PBU 23/2011. Definitions of direct and indirect methods are a necessary part of the standard, since they contain the methodology for determining the net cash flow from operating activities. In sec. Table 7, Presentation of Cash Flows from Operating Activities, sets out how IFRS and GAAP generate net cash flows from investing and financing activities. These terms and the corresponding section in RAS 23/2011 are also missing. It can be concluded that PBU 23/2011, which is called the "Cash Flow Statement", does not mention how this report should be compiled.

8. Cash flow in foreign currency. Formally, this aspect of the standard corresponds to its international counterparts. However, it is obvious that the line "The magnitude of the impact of changes in the foreign exchange rate against the ruble" in Form No. 4, in contrast to IFRS and GAAP, is taken out of the already defined net cash flow, a gap may form between the balance sheet and cash flow statement of Russian enterprises which is contrary to international standards.

9. Interest and dividends. The relationship of interest and dividends with cash flows is most fully disclosed in IFRS. Most importantly, IAS 7 shows the analytical function of transactions related to the receipt and payment of interest and dividends. It states that although the payment of dividends is a financial transaction in nature, it can also refer to cash flows from operating activities. This is done so that investors are confident in the good financial position of the company, which can pay dividends to them not only through financial activities - emissions, loans, but also through operating activities, which is the basis of the company's stability and its development. It should be noted that in PBU 23/2011 since 2011, the payment of dividends to owners refers only to cash flows from financial activities.

10. Income taxes. Following IFRS PBU 23/2011, income tax related cash flows are expected to be disclosed separately and classified as operating cash flows unless they can be specifically linked to financing or investing activities.

11. Investments in subsidiaries, associates and joint companies. This aspect is practically not disclosed in PBU 23/2011. This may be due to the fact that such disclosure requires the introduction into Russian accounting of such new elements as the cost method, the equity method, associated enterprises, proportional consolidation, etc.

12. Acquisition and sale subsidiaries and others structural units. There is no separate mention in PBU 23/2011 of such operations.

13. Non-cash transactions. Non-cash transactions include "investment and financing transactions that do not require the use of cash or cash equivalents", recorded in IAS 7. Such transactions must be excluded from the cash flow statement and must be disclosed in the financial statements in such a way that they provide all significant information about such investing and financing activities (therefore, in the statement of cash flows, which is prepared in accordance with IFRS, these transactions are shown in a note).

There is no separate mention in PBU 23/2011 of such operations. However, it appears to be very important aspect requiring separate disclosure. At present, this is especially important for Russian enterprises. This is explained by the fact that, in Russian practice, non-monetary transactions, as a rule, include barter transactions related to operating activities. Obviously, the inclusion of only investment and financial transactions as non-monetary transactions indicates that international standards indicate the need to conduct operating activities only using monetary transactions related to the direct movement of cash flows.

14. Components of cash and cash equivalents. There is no separate mention of this aspect in PBU 23/2011. This section of IAS 7 emphasizes the need to disclose the composition of cash and cash equivalents, as well as the need to reconcile the amounts in the cash flow statement with the corresponding balance sheet items, which has already been discussed.

15. Other disclosure requirements. There is no separate mention of this aspect in PBU 23/2011. In this section in IAS 7, an entity must disclose (together with management commentary) the amount of significant cash and cash equivalents held by the entity that are not available for use by the group. The standard provides relevant examples to illustrate this requirement. An example related to disclosure could also be given. In accounting, there is the concept of a "minimum balance of funds" (in GAAP these funds are called "compensation balance"). Since these funds are temporarily withdrawn from circulation and immobilized, their liquidity is reduced, which must be taken into account when assessing the real liquidity of balance sheet assets. To this end, in the statements of cash flows prepared in accordance with international standards, on a separate line cash and cash equivalents and temporarily immobilized cash balances are shown, which, of course, increases the analytical capabilities of users.

The analysis carried out indicates that PBU 23/2011, firstly, needs to be finalized and supplemented, and secondly, Russian enterprises must continue to use IAS 7 and the Principles for the Preparation and Presentation of Financial Statements approved by the IASB in 1989 for system financial reporting.

Bibliography

  1. Williams J. GAAP Handbook with Commentary. M.: Infra-M, 1998. 149 p.
  2. International Financial Reporting Standard (IAS) 7 Statement of Cash Flows. URL: http://allmsfo.ru/msfo-ias-7.html.
  3. On the annual financial statements of organizations: Order of the Ministry of Finance of Russia dated November 12, 1996 N 97.
  4. On the forms of financial statements of organizations: Order of the Ministry of Finance of Russia dated 13.01.2000 N 4n.
  5. On the forms of financial statements of organizations: Order of the Ministry of Finance of Russia dated July 22, 2003 N 67n.
  6. On the forms of financial statements of organizations: Order of the Ministry of Finance of Russia dated 02.07.2010 N 66n.
  7. On approval of the Accounting Regulations "Cash Flow Statement" (PBU 23/2011): Order of the Ministry of Finance of Russia dated 02.02.2011 N 11n.
  8. Financial newspaper. 2003. N 30.
  9. GAAP 2007 Interpretation and Application of Generally Accepted Accounting Principles. Barry J. Epstein, Ralph Nach, Steven M. Bragg.

M.E. Gracheva

Department of Economic Analysis

Financial University

under the Government of the Russian Federation

Approved
Order of the Ministry of Finance
Russian Federation
dated 02.02.2011 N 11n

REGULATION ON ACCOUNTING
"CASH FLOW STATEMENT" (PBU 23/2011)

I. General provisions

1. Present Regulations establishes the rules for compiling a statement of cash flows funds to commercial organizations and (with the exception of credit institutions) that are legal entities under the laws of the Russian Federation (hereinafter referred to as organizations).

2. This Regulation is applied for compilation in cases where the compilation and (or) presentation and (or) publication of this report is provided for by the legislation of the Russian Federation or regulatory legal acts, as well as when the organization has voluntarily decided to submit and (or) publish such report.

This Regulation does not apply when compiling an organization's reporting for internal purposes, reporting compiled for state statistical observation, reporting information submitted to a credit institution in accordance with its requirements, and reporting information for other special purposes, if the rules for compiling such reporting and information do not provide application of this Regulation.

3. The cash flow statement is part of the financial statements of the organization.

4. compiled on the basis of the general requirements for the organization's financial statements established by regulatory legal acts on accounting, and the requirements established by this Regulation.

5. Cash flow statement is a summary of data about cash, as well as highly liquid financial investments that can be easily converted into a known amount Money and which are subject to an insignificant risk of changes in value (hereinafter referred to as cash equivalents). Cash equivalents may include, for example, demand deposits opened with credit institutions.

6. B reflects the organization's payments and receipts to the organization Money and cash equivalents (hereinafter referred to as cash flows of the organization), as well as balances Money and cash equivalents at the beginning and end of the reporting period.

The organization's cash flows are not:

  • a) payments Money associated with investing them in cash equivalents;
  • b) receipts Money from the repayment of cash equivalents (excluding accrued interest);
  • c) foreign exchange operations (except for losses or gains from the operation);
  • d) exchange of some cash equivalents for other cash equivalents (except for losses or benefits from the transaction);
  • e) other similar payments to the organization and receipts to the organization that change the composition Money or cash equivalents, but not changing their total amount, including receiving cash from a bank account, transferring Money from one account of an organization to another account of the same organization.

II. Classification of cash flows

7. Cash flows of the organization are divided into cash flows from current, investment and financial operations.

8. The cash flows of an organization are classified depending on the nature of the transactions with which they are associated, as well as on how information about them is used to make decisions by users of the organization's financial statements.

9. An entity's cash flows from transactions related to the ordinary activities of a revenue-generating entity are classified as cash flows from current operations. Cash flows from current operations, as a rule, are associated with the formation of profit (loss) of the organization from sales.

Information on cash flows from current operations shows users of the organization's financial statements the level of provision of the organization with funds sufficient to repay loans, maintain the organization's activities at the level of existing production volumes, pay dividends and new investments without attracting external sources of financing. Information about the composition of cash flows from current operations in prior periods, combined with other information presented in an entity's financial statements, provides a basis for predicting future cash flows from current operations.

Examples of cash flows from current operations are:

  • a) proceeds from the sale to buyers (customers) of products and goods, the performance of work, the provision of services;
  • b) receipts of lease payments, royalties, commissions and other similar payments;
  • c) payments to suppliers (contractors) for raw materials, materials, works, services;
  • d) remuneration of employees of the organization, as well as payments in their favor to third parties;
  • e) corporate income tax payments (with the exception of cases where corporate income tax is directly related to cash flows from investment or financial transactions);
  • f) payment of interest on debt obligations, with the exception of interest included in the value of investment assets in accordance with the Accounting Regulation "Accounting for expenses on loans and credits" (PBU 15/2008), approved by Order of the Ministry of Finance of the Russian Federation dated October 6, 2008 No. 107n (registered with the Ministry of Justice of the Russian Federation on October 27, 2008, registration number 12523) as amended by Orders of the Ministry of Finance of the Russian Federation dated October 25, 2010 No. 132n (registered with the Ministry of Justice of the Russian Federation on November 25, 2010, registration number 19048), dated November 8, 2010 N 144n (registered with the Ministry of Justice of the Russian Federation on December 1, 2010, registration number 19088) (hereinafter - PBU 15/2008);
  • g) receipt of interest on accounts receivable of buyers (customers);
  • h) cash flows from financial investments acquired for the purpose of their resale in the short term (usually within three months).

10. An organization's cash flows from operations related to the acquisition, creation or disposal of the organization's non-current assets are classified as cash flows from investment operations.

Information on cash flows from investment operations shows users of the organization's financial statements the level of expenses the organization has made to acquire or create non-current assets that provide future cash receipts.

Examples of cash flows from investment operations are:

  • a) payments to suppliers (contractors) and employees of the organization in connection with the acquisition, creation, modernization, reconstruction and preparation for the use of non-current assets, including the costs of research, development and technological work;
  • b) payment of interest on debt obligations included in the value of investment assets in accordance with PBU 15/2008;
  • c) proceeds from the sale of non-current assets;
  • d) payments in connection with the acquisition of shares (interests) in other organizations, with the exception of financial investments acquired for the purpose of resale in the short term;
  • e) proceeds from the sale of shares (participation interests) in other organizations, with the exception of financial investments acquired for the purpose of resale in the short term;
  • f) granting loans to other persons;
  • g) return of loans granted to other persons;
  • h) payments in connection with the acquisition of debt securities (claims Money to other persons), with the exception of financial investments acquired for the purpose of resale in the short term;
  • i) proceeds from the sale of debt securities (rights to claim Money to other persons), with the exception of financial investments acquired for the purpose of resale in the short term;
  • j) dividends and similar receipts from equity participation in other organizations;
  • k) receipt of interest on debt financial investments, except for those acquired for the purpose of resale in the short term.

11. The organization's cash flows from operations related to the organization's attraction of financing on a debt or equity basis, leading to a change in the size and structure of the organization's capital and borrowings, are classified as cash flows from financial operations.

Information on cash flows from financial transactions provides a basis for forecasting the requirements of creditors and shareholders (participants) in relation to the organization's future cash flows, as well as the organization's future needs for raising debt and equity financing.

Examples of cash flows from an entity's financial transactions are:

  • a) cash deposits of owners (participants), proceeds from the issue of shares, increase in participation interests;
  • b) payments to owners (participants) in connection with the redemption of shares (participatory interests) of the organization from them or their withdrawal from the membership;
  • c) payment of dividends and other payments for the distribution of profits in favor of owners (participants);
  • d) proceeds from the issuance of bonds, bills of exchange and other debt securities;
  • e) payments in connection with the redemption (redemption) of promissory notes and other debt securities;
  • f) receiving credits and loans from other persons;
  • g) return of credits and loans received from other persons.

12. Cash flows of an organization that cannot be unambiguously classified in accordance with paragraphs 8-11 of this Regulation are classified as cash flows from current operations.

13. Payments and receipts from the same transaction may refer to different types of cash flows. For example, payment of interest is a cash flow from current operations, and repayment of principal is a cash flow from financial operations. When repaying a loan in cash, both of these parts can be paid in one amount. In this case, the entity divides a single amount into the appropriate parts, followed by a separate classification of cash flows and their separate reflection in cash flow statement.

III. Reflection of cash flows

14. Cash flows of the organization are reflected in cash flow statement with a division into cash flows from current, investment and financial transactions.

15. Each material type of income to the organization Money and (or) cash equivalents is reflected in cash flow statement separately from the payments of the organization, unless otherwise provided by these Regulations.

16. Cash flows are reflected in cash flow statement minimized in cases where they characterize not so much the activities of the organization as the activities of its counterparties, and (or) when receipts from some persons determine the corresponding payments to other persons. Examples of such cash flows are:

  • a) cash flows of a commission agent or agent in connection with the performance of commission or agency services by them (with the exception of fees for the services themselves);
  • b) indirect taxes as part of receipts from buyers and customers, payments to suppliers and contractors, and payments to or reimbursement from the budgetary system of the Russian Federation;
  • c) receipts from the counterparty in respect of reimbursement of utility bills and the implementation of these payments in rental and other similar relations;
  • d) payment for the transportation of goods with the receipt of equivalent compensation from the counterparty.

17. Cash flows are reflected in cash flow statement curtailed in cases where they are characterized by fast turnover, large amounts and short repayment periods. Examples of such cash flows are:

  • a) mutually conditional payments and receipts for settlements using bank cards;
  • b) purchase and resale of financial investments;
  • c) implementation of short-term (as a rule, up to three months) financial investments at the expense of borrowed funds.

18. Indicators cash flow statement organizations are reflected in the currency of the Russian Federation - rubles.

The amount of cash flows in foreign currency is converted into rubles at the official exchange rate of this foreign currency to the ruble, established by the Central Bank of the Russian Federation on the date of making or receiving the payment. In the event of an insignificant change in the official exchange rate of a foreign currency against the ruble established by the Central Bank of the Russian Federation, the conversion into rubles associated with the performance of a large number of homogeneous transactions in such foreign currency may be carried out at the average rate calculated for a month or a shorter period.

If, immediately after receipt in foreign currency, the organization, as part of its normal activities, changes the amount of foreign currency received into rubles, then the cash flow is reflected in cash flow statement in the amount of actually received rubles without intermediate conversion of foreign currency into rubles. If, shortly before a payment in foreign currency, the organization, as part of its normal activities, changes rubles for the required amount of foreign currency, then the cash flow is reflected in cash flow statement in the amount of actually paid rubles without intermediate conversion of foreign currency into rubles.

19. Leftovers Money and cash equivalents in foreign currency at the beginning and end of the reporting period are reflected in cash flow statement in rubles in the amount determined in accordance with the Accounting Regulation "Accounting for Assets and Liabilities Denominated in Foreign Currency" (PBU 3/2006), approved by Order of the Ministry of Finance of the Russian Federation of November 27, 2006 N 154n (registered in the Ministry of Justice of the Russian Federation on January 17, 2007, registration number 8788), as amended by Orders of the Ministry of Finance of the Russian Federation dated December 25, 2007 N 147n (registered with the Ministry of Justice of the Russian Federation on January 28, 2008, registration number 11007) , dated October 25, 2010 N 132n (registered with the Ministry of Justice of the Russian Federation on November 25, 2010, registration number 19048).

The difference arising from the translation of the entity's cash flows and balances Money and cash equivalents in foreign currency at exchange rates on different dates, is reflected in cash flow statement separately from the current, investment and financial cash flows of the organization as the impact of changes in the exchange rate of foreign currency against the ruble.

20. Significant cash flows of an organization between it and business entities or partnerships that are subsidiaries, affiliates or principals of the organization are reflected separately from similar cash flows between the organization and other persons.

IV. Disclosure of information in financial statements

21. If any indicator cash flow statement the organization presents additional explanations in its financial statements, then the corresponding article cash flow statement should contain a link to these explanations.

22. The organization discloses the composition Money and cash equivalents and represents a link between the amounts presented in cash flow statement, with the corresponding balance sheet items.

23. The Organization discloses, as part of the information on the accounting policy adopted by it, the approaches used to separate cash equivalents from other financial investments, to classify cash flows not specified in paragraphs 9-11 of these Regulations, to convert the amount of cash flows in foreign currency into rubles, for a condensed presentation of cash flows, as well as other explanations necessary for understanding the information presented in cash flow statement.

24. The organization discloses the opportunities available as of the reporting date to raise additional funds, including:

  • a) the amounts of credit lines opened by the organization, but not used by it, indicating all established restrictions on the use of such credit resources (including the amounts of mandatory minimum (minimum) balances);
  • b) value Money, which can be received by the organization on the terms of an overdraft;
  • c) third-party guarantees received by the organization that were not used as of the reporting date to obtain a loan, indicating the amount Money that the organization can attract;
  • d) the amount of loans (credits) not received as of the reporting date under the concluded loan agreements (credit agreements), indicating the reasons for such a shortfall.

25. The Organization discloses, taking into account materiality, the following information:

  • a) significant amounts available Money(or their equivalents) that are not available for use by the organization as of the reporting date (for example, letters of credit opened in favor of other organizations for transactions not completed as of the reporting date), indicating the reasons for these restrictions;
  • b) the amount of cash flows associated with maintaining the activities of the organization at the level of existing production volumes, separately from the cash flows associated with the expansion of the scale of these activities;
  • c) cash flows from current, investment and financial transactions for each reporting segment, determined in accordance with the Accounting Regulation "Information on Segments" (PBU 12/2010), approved by Order of the Ministry of Finance of the Russian Federation dated November 8, 2010 N 143n (registered with the Ministry of Justice of the Russian Federation on December 14, 2010, registration number 19171);
  • d) funds in letters of credit opened in favor of the organization, together with information about the fact that the organization has fulfilled obligations under the agreement using a letter of credit as of the reporting date. If the obligations under the agreement with the use of a letter of credit are fulfilled by the organization, but the funds of the letter of credit are not credited to its settlement or other account, then the reasons and amounts of non-credited funds are disclosed.

Starting with the reporting for 2011, the forms of financial statements* have changed, and in addition, by Order No. 11n dated February 2, 2011, the Ministry of Finance of Russia approved a new PBU 23/2011 Cash Flow Statement. For the first time in Russian practice, a standard appeared on how to reflect cash and cash flows in the cash flow statement. The standard is mainly aimed at a more detailed disclosure of the principles for classifying cash flows, it provides more detailed explanations and definitions. Comments on the changes of L.P. Fomicheva, certified auditor of the Ministry of Finance of Russia, tax consultant.

Note:
* Read more in issue 4 (April) of BUKH.1C for 2011, page 18.

The cash flow statement (hereinafter referred to as the ODDS) is one of the mandatory forms of the organization's financial statements. It allows the user to evaluate the ability of the company's assets to generate cash in the implementation of business transactions, which is one of the most important criteria in the analysis of the success and stability of its work. The purpose of forming the ODDS is to provide users with information about the sources of cash inflows and directions of their spending, account balances, that is, about the events that actually occurred, and the data for the period is only summarized on a specific reporting date and no adjustment is expected. Traditional users of this report are banks that lend to the company, as well as creditors that sell assets (works, services) to the company with subsequent payment.

The format of the ODDS, which organizations must draw up since 2011, was approved by order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n. Compared to the report format used before 2011, the changes, at first glance, have been minor. Each group of lines devoted to a particular type of activity ended in the previous form with the “Net cash” indicator for current (investment, financial) activities. The indicator was calculated as the difference between inflow and outflow. In the new proposed form, the name of the final line has been changed, it is called “Result of cash flows” for the corresponding type of activity. In addition, at the end of the report, the overall “Result of cash flows for the reporting period” is shown by adding up all flows. Then the “Balance of funds at the beginning of the reporting period” is indicated, in the previous form, the report began with this line. Then, by adding the result of the movement of money for the period and the balance at the beginning of the period, the value of the line "Cash balance at the end of the reporting period" is obtained. The remaining changes relate to detailed breakdowns of the components of the cash flow for each of the activities.

AT international reporting the preparation of ODDS is regulated by IAS 7 Cash Flow Statements. In Russian practice, until now, accountants have been guided by the instructions for filling out this report, which were given in paragraphs 15 and 16 of the Instructions on the procedure for compiling and submitting financial statements, approved. by order of the Ministry of Finance of Russia dated July 22, 2003 No. 67n. But this document invalidated in 2011 due to changes in the forms of financial statements.

And now, by order No. 11n dated February 2, 2011, the Ministry of Finance of Russia approved the new PBU 23/2011 “Cash Flow Statement” (hereinafter referred to as PBU 23). The order was registered with the Ministry of Justice of Russia on March 29, 2011 No. 20336.

For the first time in Russian practice, a standard has appeared on how to reflect cash and their flows in ODS. Let's say right away: the standard is mainly aimed at a more detailed disclosure of the principles for classifying cash flows, it provides more detailed explanations and definitions. The rules for the preparation of this report by the direct and indirect methods, as provided in IAS 7, are not mentioned in it. Therefore, as before, ODS should be compiled on the basis of actual data on cash flows. But PBU establishes some features when reflecting individual operations, which we will discuss next. In addition, the standard imposes additional disclosure requirements for the financial statements of cash flows.

PBU 23 is put into effect starting from the financial statements for 2011. Therefore, when filling out a new form of ODDS, commercial organizations (except for credit organizations) should be guided by the new standard (clause 1 of PBU 23). Of course, this applies to cases where the compilation, submission or publication of the ODDS is mandatory due to legal requirements. If the organization decides to voluntarily provide users with ODDS, then it must also apply PBU 23.

This RAS does not apply when compiling internal reporting, reporting for state statistical supervision or for special purposes (for example, provided by a credit institution at its request).

ODDS is presented as part of the notes to the balance sheet and income statement (clause 5 of PBU 23).

Paragraph 4 of PBU 23 establishes that this report is subject to General requirements to reporting forms. Recall that such requirements are established, in particular, by paragraphs 5-17 of PBU 4/99 “Accounting statements of an organization”.

Definition of cash and cash equivalents

In the previous form of ODDS, it was indicated that it was possible to provide information on the movement of not only cash, but also their equivalents. However, there was no definition of the term cash equivalents in Russian standards. And many companies have used the definition given in IAS 7.

And so, in paragraph 6 of PBU 23, they finally gave a definition of cash equivalents, information on the movement of which, together with cash, is presented in the ODS. Cash equivalents are short-term, highly liquid financial investments that can be easily converted into a known amount of cash and are subject to an insignificant risk of changes in value.

What does short term mean?

IAS 7 proposes to consider a three-month maturity or other similarly short term as a temporary criterion for cash equivalents. In fact, indirect confirmation that Russian companies can focus on this period, we find in subparagraph h) of paragraph 9 of PBU 23, where examples of current cash flows are named. Among other things, this subparagraph states that these may include cash flows from financial investments acquired for the purpose of their resale in the short term (usually within three months).

The company must independently establish and fix in its accounting policy what kind of financial investments it will include in cash equivalents, based on the determination of their short-term, liquidity and exposure to an insignificant risk of changes in value.

Investments in shares of other entities are not classified as cash equivalents unless they are purchased with the intent to resell in the near future (for example, shares of large companies acquired for the purpose of speculating on their price). Usually, cash equivalents are more intended for repayment of short-term obligations (for example, highly liquid bills that will be used to settle with a supplier) than for investment.

Examples of cash equivalents include highly liquid bills or bonds, demand deposits and short-term bank deposits that are opened to manage the organization's cash flows in order to earn interest income.

The ODDS does not show the transfer of cash or cash equivalents from one form to another. After all, this will lead to a doubling of the flow. The transfer of money into cash equivalents (their acquisition) and the receipt of money from the redemption of these equivalents are not cash flows.

Example 1

Classification of cash flows

Drawing up ODDS consists in the distribution of all receipts (inflows) of funds and their expenses (outflows) by type of activity.

As before, in the ODDS, cash flows are presented in the context of current, investment and financial activities (clause 7 of PBU 23). The definitions of activities themselves have become more detailed and closer to IAS 7.

It is important that the new provision provides many examples of classifying most types of income and expenses for specific types of activities.

Current cash flows

Cash flows from current activities are formed mainly in the course of the main activities that create the organization's revenue. Thus, they are usually the result of operations that affect the formation of net profit (paragraph 9 of PBU 23).

Cash flows arising from current activities are the most important indicator whether the category of activity generates enough cash to repay loans, maintain operations at current levels of productivity, pay dividends, and make new investments without raising external sources of financing. Analysis of current flows previous periods used in forecasting future current flows in conjunction with other information.

Examples, in particular, are (clause 9 PBU 23):

  • proceeds from sales to customers (they are reflected in line 4111 of the ODDS form, approved by order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n);
  • proceeds from the lease of property, royalties, fees, commissions and other income (line 4112);
  • payments to suppliers of materials, goods, works and services (line 4121);
  • remuneration of employees, including payments in their favor to third parties (line 4122);
  • income tax payments, unless they are linked to financial or investment activities;
  • payment of interest on debt obligations (line 4123), with the exception of interest, which is included in the cost of investment assets in accordance with the rules of PBU 15/2008;
  • receipt of interest on accounts receivable of buyers (customers);
  • cash flows from financial investments acquired for the purpose of their resale in the short term (usually within three months).

Cash flows from investing activities

Cash flows from investment activities are associated with the movement of non-current assets and provide cash receipts in the future (clauses 7, 10 PBU 23).

Examples of such streams are:

  • payments to suppliers (contractors) and employees of the organization in connection with the acquisition, creation, modernization, reconstruction and preparation for the use of non-current assets, including R&D costs or their sale (line 4221);
  • payment of interest on debt obligations included in the cost of an investment asset in accordance with the rules of PBU 15/2008;
  • payments in connection with the acquisition (sale) of shares (participation interests) in other organizations, debt securities (rights to claim funds from other persons) that are not cash equivalents (line 4222);
  • granting loans to other persons and their return;
  • dividends and similar receipts from equity participation in other organizations (line 4212);
  • interest income on debt financial investments, except for those acquired for the purpose of resale in the short term (line 4212).

Financial activities

Financial activity changes size and structure equity organization and its loans and borrowings. Such flows help creditors, shareholders (participants) to predict future cash flows and borrowing needs.

Examples of financial cash flows are (clause 11 PBU 23):

  • cash deposits of owners (participants), proceeds from the issue of shares, increase in participation interests (line 4313);
  • payments to shareholders (participants) in connection with the redemption of shares (participatory interests) of the organization from them or their withdrawal from the membership;
  • payment of dividends and other payments for the distribution of profits in favor of the owners (participants). They are reflected in line 4322;
  • proceeds from the issue of bonds, bills of exchange and other debt securities and payments in connection with their redemption;
  • receipt (repayment) of credits and loans from other persons (lines 4311 and 4321).

Cash flows that cannot be unambiguously classified are classified as current.

Sometimes it may be necessary to split one operation into several activities. For example, if the amount of debt and interest is paid in a single amount when repaying a loan, then the amounts should be divided for the purposes of reflection in the ODS. Debt repayment should be shown as a financial flow, and interest should be attributed to current activities (paragraph 13 of PBU 23).

Reflection of individual business transactions

Previously, experts pointed out that the ODDS should exclude internal transfers of money between certain accounts, for example, between ruble and currency account, between the cash register and the current account. And they recommended to show transactions for the sale / purchase of currency only in part of the resulting difference, since these transactions are associated with the transformation of one type of cash into another. Now, in paragraph 6 of PBU 23, it was directly indicated that the following are not cash flows: currency exchange transactions (with the exception of losses or benefits from the operation) and other similar payments to the organization and receipts to the organization that change the composition of cash or cash equivalents, but do not change them the total amount.

Companies that prepare consolidated financial statements when compiling the general ODDS should pay attention to paragraph 20 of PBU 23. It states that significant cash flows between the parent, subsidiaries and affiliates are reflected separately from similar cash flows between the organization and other persons. It is not possible to dwell on the preparation of consolidated financial statements within the framework of this article.

Transit and Bulk Operations

By general rule each significant type of income in the ODDS is reflected separately from cash payments, that is, expanded (clause 15 of PBU 23).

Exceptions are provided for transit operations and mass flows, which can be reflected in a reduced, net method. The flows that are transitive are:

  • reflects the activities of the client to a greater extent than the organization itself;
  • or when receipts from some persons give rise to corresponding payments to others.

Classic examples of transit payments are commission and agency services, when a commission agent or agent receives funds and transfers them to the owner of the goods, work or service provider in a short time, minus his remuneration. They also include payments from counterparties on account of reimbursement utilities or receiving compensation in connection with the transportation of goods.

The fact that this rule was indicated in the PBU is very important. Many Russian companies, when compiling the ODDS, showed all turnovers on settlement accounts, taking into account the funds transferred in a short time, for example, to the principal. Users of reporting, incl. banks had a misleading impression of such flows, and they could provide commission agents with some advantages in servicing.

The long-awaited clarification is given in paragraph 16 of PBU 23 on VAT and other indirect taxes that are received from buyers and customers or paid to suppliers and contractors. Such taxes can be considered transit taxes, since they are almost immediately sent to the budget or reimbursed from it. It follows from this that the cash flows received from/transferred to these persons can be "cleared" from VAT. After all, they practically do not affect the net flow generated by the company in a year. Of course, the word “may” means that this choice will be recorded in the accounting policy of the organization.

Mass flows are characterized by high turnover, large amounts and short maturities (clause 17 of PBU 23). Examples of such receipts and payments can serve as:

  • mutually conditional payments and receipts for settlements using bank cards;
  • purchase and resale of financial investments;
  • short-term (usually up to three months) refinancing.

Currency operations

The flow indicators in the ODDS are reflected in rubles. The amount of cash flows in foreign currency is converted into rubles at the exchange rate of the Central Bank of the Russian Federation on the date the payment is made or received (clause 18 of PBU 23).

This is a very important provision, which fundamentally changes the rules established for the reflection of flows in foreign currency, which were previously established in paragraph 16 of the Instructions on the procedure for compiling and submitting financial statements. According to the old rules, the entire cash flow was presented to users of financial statements at the exchange rate of the Central Bank of the Russian Federation at the date of preparation of financial statements. And in order to comply with this rule, the accountant had to form several preliminary forms of ODDS for each type of foreign currency used by the organization. After that, the data of each calculation line were recalculated at the rate of the Central Bank of the Russian Federation as of December 31, and then summed up with the ODDS data on the movement of funds in Russian rubles. As a result, the reporting user was presented with a slice of the movement of all funds from the position of the foreign exchange rate as of 31.12 of the corresponding reporting year. That is, for all lines of the report, along with ruble funds, the movements of foreign currency funds were shown in terms of rubles at the exchange rate of the Central Bank of the Russian Federation, established on 31.12.

In connection with these complex recalculations, some differences arose, which many accountants tried to attribute to the last line of the report "The magnitude of the impact of changes in the exchange rate of foreign currency against the ruble." But only experienced auditor knew that this indicator is the difference between the ruble equivalent of the foreign exchange funds available to the organization at the beginning of the year (at the exchange rate at the end of the reporting year) and the equivalent of the same amount at the exchange rate at the beginning of the reporting year, reflected in the balance sheet in line 260.

Example 2

As of January 1, 2011, the cash desk of the organization had a cash balance of 1,000 rubles. The balance of funds on the current account in the bank was 100,000 rubles, and on the foreign currency account - 1,000 USD.

The official US dollar exchange rate set by the Central Bank of the Russian Federation as of December 31, 2010 (the end of the previous reporting period) was conditionally equal to 29.3804 rubles/USD.

The total cash balance at the beginning of 2011 in line 260 of the balance sheet is shown as 130,080 rubles. (1,000 rubles + 100,000 rubles + 1,000 USD x 29.3804 rubles / USD).

For the purposes of filling in line 4450 of the ODDS “Cash balance at the beginning of the reporting period”, it is necessary to recalculate foreign currency funds at the exchange rate of the Central Bank on the reporting date, i.e. as of 12/31/2011. Let's say it will be equal to 34 rubles / USD. The value of the line will be equal to 135,000 rubles. = 1,000 rubles. + 100 000 rub. + 1,000 USD x 34 RUB/USD.

That is, the data on the balance of funds at the beginning of the year in the balance sheet on line 260 will differ from the data on the same balances in the ODDS.

What is now said about the rules for "recurrence" of foreign exchange transactions in RAS 23?

First position. We have already noted that the entire currency flow in the report is not recalculated at the rate of the Central Bank of the Russian Federation on the reporting date, but is reflected at the rate of the Central Bank of the Russian Federation on the date the payment is made or received (clause 18 of PBU 23). That is, the accountant was saved from compiling preliminary ODDS in each foreign currency and recursing the flow at the rate of each currency on 31.12.

Second position. Separately, it was prescribed that the balances of cash and cash equivalents in foreign currency at the beginning and end of the reporting period are reflected in the ODDS according to the rules established by PBU 3/2006, that is, at the official exchange rate of the Central Bank of the Russian Federation at the reporting date (clause 19 PBU 23/2010) . That is, the balances at the beginning of the year should no longer be recalculated at the exchange rate at the reporting date (December 31). Therefore, both in the balance sheet and in the ODDS, the amount of cash at the beginning and end of the year should now be the same.

Exchange differences do not affect the value of cash flows, however, they change the values ​​of balance sheet indicators at the reporting date. Therefore, exchange differences are not reflected in any of the sections of the ODDS, but are shown separately as the effect of changes in the exchange rate of a foreign currency against the ruble (line 4490). This is necessary in order to maintain the correspondence of the opening and closing balances of cash and cash equivalents.

The difference arising in connection with the recalculation of the organization's cash flows and cash and cash equivalents in foreign currency at exchange rates on different dates is reflected in the cash flow statement separately from the organization's current, investment and financial cash flows as the impact of changes in the foreign exchange rate at against the ruble (line 4490). In essence, these differences are exchange differences from the translation of cash balances during the reporting period.

In addition, PBU 23 establishes that in the event of an insignificant change in the exchange rate, the conversion into rubles associated with the commission of a large number of homogeneous transactions in such a foreign currency can be carried out at the average rate calculated for a month or a shorter period (paragraph 16 of PBU 23). Obviously, it is necessary to establish in the accounting policy what change in the exchange rate will be considered insignificant, for what period and how the average rate will be calculated.

Also an important provision is the possibility of reflecting the purchase and sale of foreign currency on the basis of the “net valuation” principle (clause 18 of PBU 23).

Recalculation may not be carried out if, within a few days after receipt of payment in foreign currency, the organization changes the amount received into rubles. Then the cash flow is reflected in the ODDS in the amount of actually received rubles without intermediate conversion of foreign currency into rubles.

You can also do it if you have to pay in a foreign currency and an exchange is made the day before. In the ODDS, you can reflect the amount of actually paid rubles without an intermediate conversion of the currency into rubles.

This is also an important provision, since the "unfolding" of operations in this case changed the essence of operations. In fact, in most cases, the organization incurred only expenses for the purchase of currency or income from its sale. And for those organizations that work with foreign suppliers or buyers, the ODDS was inflated due to the deployment of operations and the exchange rate of the currency on various dates. We recommend that you consider the innovations and prescribe the relevant provisions on the rules for compiling ODDS in the accounting policy.

Disclosure of additional information

Unlike the balance sheet and income statement, new form ODDS does not have an “Explanations” column, in which a reference is made to the corresponding explanations. At the same time, if an organization submits additional explanations to any indicator of the ODDS in the reporting, then the corresponding article of the report should contain a link to these explanations (paragraph 19 of PBU 23). ODDS items should be linked to equivalent items in the balance sheet (paragraph 22 of PBU 23).

Paragraph 23 of the PBU requires disclosure in the notes to the financial statements of the accounting policies related to the preparation of the ODS. We are talking about a statement of the principles that the company is guided by when separating financial investments and cash equivalents, about converting the amount of cash flows in foreign currency into rubles, about making a decision on the collapsed presentation of cash flows of a transit or mass nature. Other explanations necessary for understanding the information provided in the SDS may also be provided.

The organization must disclose information about the possibility of additionally raising funds in the future, including (clause 24 of PBU 23):

  • the amount of unused credit funds, indicating the existing restrictions on their use;
  • the amount of funds that can be received by the organization on the terms of an overdraft;
  • guarantees of third parties received by the organization that were not used as of the reporting date for taking a loan, indicating the amount of funds that the organization can attract;
  • amounts of loans (credits) not received as of the reporting date under the concluded loan agreements (credit agreements), indicating the reasons for such shortfall.

If the indicators are material, the organization must disclose information (paragraph 25 of PBU 23):

  • about amounts not available for use (for example, letters of credit opened in favor of other organizations), indicating the reasons for the restrictions;
  • about the cash flows associated with maintaining the activities of the organization at the level of existing production volumes, separately from the cash flows associated with the expansion of the scale of activities;
  • on current, investment and financial cash flows for each reporting segment, determined in accordance with PBU 12/2010;
  • on the funds in letters of credit opened in favor of the organization, together with information on the fact that the organization, as of the reporting date, fulfilled obligations under the agreement using a letter of credit. If the obligations under the agreement with the use of a letter of credit are fulfilled by the organization, but the funds of the letter of credit are not credited to its settlement or other account, then the reasons for non-crediting and the amount of non-credited funds are disclosed.

From the editor. AT economic programs 1C Company PBU 232011 will be implemented by the reporting campaign for 2011.

At the beginning of this year, the Ministry of Finance of Russia approved a new RAS 23/2011 "Statement of Cash Flows". The purpose of this provision is to correctly reflect in the relevant information about the sources of income and directions for the use of funds by the organization. Such information is useful in assessing an entity's ability to generate cash and cash equivalents, as well as the entity's need to use these flows. In anticipation annual accounts we will consider the specified PBU in more detail.

General provisions

The accounting regulation "" (PBU 23/2011) was approved by Order of the Ministry of Finance of 02.02.2011 N 11n. This provision establishes the rules for compiling a cash flow statement by commercial organizations (with the exception of credit organizations).
The form of the cash flow statement was approved by the Order of the Ministry of Finance dated 02.07.2010 N 66n. The specified form is included in the annual financial statements (clause 49 of the Accounting Regulations "Accounting statements of the organization" (PBU 4/99), approved by Order of the Ministry of Finance dated 06.07.1999 N 43n).
Note that the cash flow statement (hereinafter referred to as the Report) may not be submitted to small businesses and non-profit organizations. The specified rule is spelled out in paragraph 85 of the Regulation on accounting and financial reporting in the Russian Federation, approved. Order of the Ministry of Finance dated July 29, 1998 N 34n (hereinafter - Order N 34n).
The Report reflects the cash flows of the organization, as well as the balances of cash and cash equivalents at the beginning and end of the reporting period (clause 6 PBU 23/2001). Simply put, you should show information about the sources of income and directions for the use of funds by the organization.
Organization cash flows- these are payments to the organization and receipts to the organization of cash and cash equivalents (clause 6 PBU 23/2011).
Cash equivalents- these are highly liquid financial investments that can be easily converted into a predetermined amount of cash and which are subject to an insignificant risk of changes in value (clause 5 of PBU 23/2011).

Note. On July 18, 2011, the Ministry of Finance of Russia posted on its website (www.minfin.ru) a draft order "On Amendments to the Forms of Organizations' Accounting Statements". In this project, the innovations introduced by PBU 23/2011 were taken into account. The result was that the form of the cash flow statement was set out in new edition. It introduced such concepts as "cash flows" and "cash equivalents". Adjustments also affected the balance sheet. At the same time, in sect. II" current assets"Financial investments" and "Cash" indicators have been renamed to "Financial investments (excluding cash equivalents)" and "Cash and cash equivalents", respectively.

If we talk about international financial reporting standards (hereinafter - IFRS), then we are talking about IAS 7 "Statement of Cash Flows" (hereinafter - IAS 7). Note that if any methods of accounting are not established in the legislation of the Russian Federation, then when forming an accounting policy, you have the right to refer to IFRS (clause 7 of the Accounting Regulations "Accounting Policy of an Organization" (PBU 1/2008), approved by Order Ministry of Finance dated 06.10.2008 N 106n). This fact is of particular importance when compiling the Report, because PBU 23/2011 does not cover all issues related to the reflection of cash flows and cash equivalents.

Classification of cash flows

Let's start with the fact that the organization's cash flows are not (clause 6 PBU 23/2011):
- cash payments related to their investment in cash equivalents;
- cash receipts from the repayment of cash equivalents (excluding accrued interest);
- foreign exchange transactions (except for losses or gains from transactions);
- exchange of some cash equivalents for other cash equivalents (excluding losses or gains from transactions);
- other similar payments and receipts that do not change their total amount, incl. receiving cash from a bank, transferring funds from one organization account to another.
The cash flow statement should contain information about the cash flows for reporting period broken down into flows from operating, investing and financing activities. This classification allows users to evaluate the impact of this activity on financial position enterprise and the amount of its cash and cash equivalents. This information can also be used to assess the relationship between activities.
Cash flows from current operations- these are cash flows from operations related to the ordinary activities of the organization (clause 9 PBU 23/2011).
Cash flows from investment operations- cash flows from transactions related to the acquisition, creation or disposal of non-current assets of the organization (clause 10 PBU 23/2011).
Cash flows from financial transactions- these are cash flows from operations related to the organization's attraction of financing on a debt or equity basis, leading to a change in the size and structure of the organization's capital and borrowed funds (clause 11 PBU 23/2011).
The table shows examples of classification of cash flows.

Examples of cash flow classification

cash flows
from current operations

cash flows
from
investment operations

cash flows
from financial transactions

proceeds from the sale,
performance of work,
provision of services.
Rental income
payments.
Payments for raw materials
materials, work,
services.
Salary.
Tax payments
for the profit of organizations
(with the exception of
cases where the tax
at a profit
directly related
with cash flows
from investment or
financial transactions).
Interest payment
for debt
obligations.
Interest income
receivable
debt
buyers
(customers).
cash flows
financial
investments,
acquired for the purpose
their resale
in the short term
perspective

Payments to suppliers
(contractors)
and employees of the organization
in connection with the acquisition
creation, modernization,
reconstruction
and preparation
to use
non-current assets.
Interest payment
for debt
obligations
included in the price
investment assets.
Proceeds from the sale
non-current assets.
Payments in connection
with the acquisition of shares
(interest) in other
organizations
and receipts
from their sale.
Providing loans
other persons
and their return.
Payments in connection
with the purchase of debt
securities (rights
cash demands
funds to others)
and receipts
from their sale.
Dividends and similar
proceeds from equity
participation in other
organizations.
Interest income
for debt financial
investments

Cash deposits
owners
(participants),
proceeds from issuance
shares, share increase
participation.
Payments to owners
(participants) in connection
buying back their shares
(share)
organization or
their withdrawal from the
participants.
Dividend payment
and other payments
by distribution
profit for
owners
(participants).
Proceeds from issuance
debt securities.
Payments in connection
with redemption (redemption)
bills and other
debt securities.
Getting loans
and loans from others
and their return

Note that the cash flows of the organization, which cannot be unambiguously classified, are classified as cash flows from current operations (clause 12 of PBU 23/2011).
At the same time, payments and receipts from one transaction may refer to different types of cash flows. For example, the payment of interest is a cash flow from current operations, and the return of the principal amount of a debt is a cash flow from financial operations (clause 13 of PBU 23/2011).

Reflection of cash flows

The organization's cash flows are reflected in the Report with a subdivision into cash flows from current, investment and financial operations (clause 14 PBU 23/2011). Moreover, each significant type of income is shown separately in the Report (clause 15 of PBU 23/2011).
In some cases, cash flows are shown on a net basis. We are talking about the following situations (clauses 16 and 17 of PBU 23/2011):
- if cash flows characterize not so much the activities of the organization as the activities of its counterparties, or when receipts from some persons determine the corresponding payments to other persons. For example, indirect taxes (VAT, excises), cash flows of a commission agent or agent in connection with the implementation of commission or agency services by them (with the exception of fees for the services themselves);
- if the cash flows are characterized by rapid turnover, large amounts and short repayment periods. For example, the implementation of short-term financial investments at the expense of borrowed funds.
Now consider what to do if the amount of cash flows is expressed in foreign currency. In this case, conversion into rubles should be made at the official exchange rate of the Central Bank of the Russian Federation on the date of making or receiving the payment. In the event of an insignificant change in the exchange rate, conversion into rubles associated with the performance of a large number of similar operations in such a foreign currency may be carried out at the average rate calculated for a month or a shorter period. If, immediately after receipt in foreign currency, the organization changes it to rubles, then the cash flow in the Report is reflected in the amount of actually received rubles without intermediate recalculation. They do the same when exchanging rubles for foreign currency (clause 18 of PBU 23/2011).
The balances of cash and cash equivalents in foreign currency at the beginning and end of the reporting period are shown in the Report in rubles in the amount determined in accordance with the Accounting Regulation "Accounting for assets and liabilities whose value is expressed in foreign currency" (PBU 3/2006 ), approved. By order of the Ministry of Finance dated November 27, 2006 N 154n.
The difference arising in connection with the currency conversion at the exchange rates for different dates is entered in the Report separately from the current, investment and financial cash flows of the organization as the impact of changes in the foreign currency exchange rate against the ruble (paragraph 19 of PBU 23/2011).
Note that it is necessary to separately reflect the significant cash flows of the organization between it and business entities or partnerships that are subsidiaries, dependent or main ones in relation to the company (clause 20 PBU 23/2011).

Note. According to paragraph 18 of IAS 7, an entity must report cash flows from operating activities using one of the following methods:
- direct method, which discloses information on the main types of gross cash receipts and payments;
- an indirect method, in which profit or loss is adjusted for the results of non-cash transactions, any deferred or accrued past or future cash receipts or payments arising in the course of operating activities, as well as items of income or expenses associated with the receipt or payment of cash in investment or financial activities.
This encourages businesses to use the direct method of presenting cash flows from operations. The fact is that only this method provides information useful for estimating future cash flows (clause 19 of IAS 7).

Do not forget to write down in the accounting policy approaches for separating cash equivalents from other financial investments, for classifying cash flows, converting into rubles, for a collapsed presentation of cash flows, etc. (clause 23 PBU 23/2011).

Disclosure of information in financial statements

The organization is obliged to disclose the composition of cash and cash equivalents and provide a link between the amounts reflected in the Report and the relevant balance sheet items (paragraph 22 of PBU 23/2011).
It is necessary to show the opportunities available as of the reporting date to raise additional funds, including (clause 24 of PBU 23/2011):
- the amount of credit lines opened by the organization, but not used by it, indicating all established restrictions on the use of such resources;
- the amount of funds that can be received on the terms of an overdraft;
- third-party guarantees received that were not used as of the reporting date to obtain a loan, indicating the amount of funds that the organization can attract;
- amounts of loans (credits) not received as of the reporting date under the concluded agreements, indicating the reasons for such a shortfall.
Taking into account materiality, the following information is also disclosed (clause 25 of PBU 23/2011):
- amounts that, as of the reporting date, are not available for use (for example, letters of credit opened in favor of other organizations on pending transactions), indicating the reasons for the restrictions;
- the amount of cash flows associated with maintaining the activities of the organization at the level of existing production volumes, separately from the cash flows associated with the expansion of the scale of these activities;
- cash flows from current, investment and financial transactions for each reporting segment, determined in accordance with the Accounting Regulation "Information on Segments" (PBU 12/2010), approved. Order of the Ministry of Finance dated 08.11.2010 N 143n;
- funds in letters of credit together with information about the fact that the organization has fulfilled obligations under the contract using a letter of credit as of the reporting date. If the obligations under the contract are fulfilled by the organization, but the funds of the letter of credit are not credited to its account, then the reasons and amounts of non-credited funds are disclosed.
Note that if an organization provides additional explanations for any indicator of the Report in its financial statements, then the corresponding article of the Report should also contain a link to these explanations (clause 21 PBU 23/2011).
The Report should also show data for the previous year. True, in this case, you will have to work harder. Indeed, due to differences in the accounting rules of 2010 and 2011. clearly incomparable. Nevertheless, there is a way out. The fact is that clause 35 of Order 34n states that if the data for the period preceding the reporting year are not comparable with the data for the reporting period, then the first of the named data is subject to adjustment based on the rules established regulations. Each material adjustment must be disclosed in explanatory note along with the reasons for it.

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